GSI Technology stock falls 10% premarket
Shares of small cap GSI Technology Inc. (GSIT), a loss-making semiconductor company that has been attracting meme-like attention, fell 10.1% in premarket trades Tuesday. The stock closed up 4.9% Monday at a new high of $5.34 on trading volume three times higher than the prior 30-day average, FactSet data show. Shares of GSI Technology skyrocketed 210.4% Friday. The stock is up 209% in 2023, outpacing the S&P 500 index's gain of 7.7%. With a market cap of $125.7 million, GSI Technology is relatively small, particularly when compared with meme stock darlings AMC Entertainment Holdings Inc. (AMC) and GameStop Corp. (GME). According to a GSI Technology filing with the SEC Monday, Orin Hirschman, managing member of Maryland-based AIGH Capital Management, has taken an 8.1% stake in the semiconductor specialist. AIGH Capital Management has $271.3 million in managed securities, according to a separate SEC filing Monday. As of March 31, 2023 the majority of AIGH Capital Management's holdings were in healthcare and tech, according to Nasdaq data.
-James Rogers
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-16-23 0844ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
After Earnings, Is Coke Stock a Buy, a Sell, or Fairly Valued?
-
Disney Earnings: Improved Streaming Results Come at the Expense of Continued Linear Weakness
-
Apple: We Expect New Models and New Chip to Spur Return to iPad Growth
-
Palantir Earnings: AI Platform Drives Strong Start to 2024
-
What I Hope My 14-Year-Old Learned at Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks
-
3 Stocks With High Dividend Yields That Warren Buffett Likes